South Korean video game company Krafton has signed a business deal with Layer 1 blockchain project Solana Labs to build blockchain-based games using non-fungible tokens (NFTs).

Krafton, known for its popular battle royale game, PUBG: Battlegrounds, will utilize Salana’s blockchain technologies and experience to build NFT-based games and services.

Peaking on the business partnership, Krafton’s Lead of Web 3.0 Roundtable Hyungchul Park said Krafton “will acquire the insight needed (from Solana) to accelerate its investment in and output of blockchain-based experiences” as they work toward establishing a Web 3.0 ecosystem.

In the last 24 hours, bitcoin has been up by 2.6%, with a current price of $43,786.11 as of the time of writing this. Within 24 hours, bitcoin experienced a $42,088.61 low and $43,915.77 high. The trading volume of bitcoin in the last 24 hours is $25,624,861,709. The current market capitalization of bitcoin is $832,740,585,827. Currently, $18.99M bitcoins are in circulation.

Stats and Image from Coin Gecko

Krafton had earlier announced that it will be leveraging its game development capability and operation experience to launch into web3 and NFT ecosystem.

Solana Labs claims to offer faster transaction times and lower costs than Ethereum, features Krafton agrees with.

Head of Games Business Development at Solana Labs Johnny Lee believes “KRAFTON is an established innovator in the games industry and we are excited to be part of their next level up. We are seeing gamers increasingly seek out on-chain games and gaming companies who respond quickly to this demand will set themselves up well for ongoing success,” he said.